Silverjet has entered into a £8.4 million loan facility agreement and a proposed £4.3 million subscription agreement with Viceroy Holdings LLC. However shares on AIM have been suspended until funds are transferred.Silverjet Aviation served a notice under the Loan Facility to drawdown approximately US$5.0 million.
Silverjet has yet to receive the full drawdown.
As announced on 30 April 2008, Silverjet’s working capital reserves are limited and advances under the Loan Facility are required as a matter of urgency.
In the circumstances, Silverjet has requested, and the London Stock Exchange has confirmed, an immediate suspension in the trading of the ordinary shares of the Company on the AIM market of the London Stock Exchange.
Silverjet continues discussions with other parties, which have confirmed an interest in investing in the Company.